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Day trading guide for Thursday: 7 stocks to buy or sell today — 2nd December

Day trading guide: Immediate support for NSE Nifty is placed at 17,080 levels, say stock market experts. Photo: Hemant Mishra/Mint (Mint)Premium
Day trading guide: Immediate support for NSE Nifty is placed at 17,080 levels, say stock market experts. Photo: Hemant Mishra/Mint (Mint)

  • Day trading guide: Overall negative chart set up remains intact and further upside at NSE Nifty from here could encounter strong overhead resistance around 17,300 to 17,400 levels, believe stock market experts

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Day trading guide for Thursday: After showing high volatility on Tuesday, Indian stock market witnessed a sustainable upside move on Wednesday. NSE Nifty closed decently higher by 183 points and closed at 17,166 levels whereas BSE Sensex shot up 619 points and closed at 57,684 levels. Bank Nifty index surged 669 points and closed at 36,364 mark.

According to stock market experts, technically this trade pattern indicates a formation of pullback rally of a down trend. Hence, this pullback is expected to be short lived and the weakness could emerge again from the higher levels.

On a day when the volume son the NSE were much below the recent averages; metals and bank indices gained the most while healthcare index fell. Mid-cap index rose 1 per cent while small-cap index rose 0.27 per cent.

Day trading guide for Nifty today

Unveiling intraday trading strategy for Thursday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The sustainable upside move of Wednesday seems to have lifted hopes for bulls to make a comeback. But, the overall negative chart set up remains intact and further upside at NSE Nifty from here could encounter strong overhead resistance around 17,300 to 17,400 levels in the next 1-2 sessions, before showing another round of weakness from the highs. Immediate support for NSE Nifty is placed at 17,080 levels."

Day trading stocks for today

Sharing day trading stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singh, Head of Research & Vice President at ShareIndia; Manoj Dalmia, Founder & Director at Proficient Equities Limited and Parth Nyati, Founder at Tradingo — recommended 7 stocks to buy today.

Sumeet Bagadia's day trading stocks

1] JSW Steel: Buy at CMP, target 6660 to 675, stop loss 610

2] HDFC Life: Buy at CMP, target 710 to 725, stop loss 670

Ravi Singh's stocks to buy today

3] Deepak Nitrite: Buy at 2100, target 2250, stop loss 2080

4] Canara Bank: Buy at 203, target 220, stop loss 200

Manoj Dalmia's stock of the day

5] ABB Power or Hitachi Energy India: Buy at 2710, target 2889, stop loss 2642

Parth Nyati's shares to buy today

6] TCI Express: Buy at CMP, target 2500, stop loss 2220

7] Union Bank of India: Buy at 45.50, target 47.25, stop loss 44.40.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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